Buy Natural Gas SEP @ 215 SL 210 TGT 222-228. MCX - Kedia Advisory
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Crude Oil
Observations
Crudeoil trading range for the day is 7331-7651.
Crude oil settled flat after prices gained amid concerns that a Russian ban on fuel exports.
The Russian government announced it will temporarily restrict exports of gasoline and diesel to stabilize fuel prices in the domestic market.
Morgan Stanley raises quarterly Brent oil price forecasts US crude stocks at Cushing storage hub fall to lowest since July 2022 – EIA
SELL CRUDEOIL OCT @ 7550 SL 7650 TGT 7450-7350. MCX
Natural Gas
Observations
Naturalgas trading range for the day is 212.7-225.7.
Natural gas dropped on lower LNG feedgas, weekend storm EIA reported a 64 Bcf injection into domestic storage facilities for the week ending Sept. 15.
Total Lower 48 working gas in underground storage ended the period at 3,269 Bcf higher than the five-year average.
Meteorologists forecast the weather in the lower 48 states would remain near normal until around Sept. 26
BUY NATURALGAS SEP @ 215 SL 210 TGT 222-228. MCX
